Abbott Labs Has the Right Rx

Strong quarterly results show that while Abbott is on track to split into separate companies, the health-care products giant has its act together.

Abbott Labs is still on track to split into separate pharmaceutical and medical-device companies later this year, but both units delivered a strong showing in the health-care leader's first-quarter report.

Before Wednesday's opening bell, Abbott Laboratories (ticker: ABT) announced earnings of $1.2 billion, or 78 cents a share, up from 55 cents a share in the year-ago period. Excluding one-time items in both quarters, earnings rose to $1.03 a share from 91 cents a share, beating analysts' expectations of $1.00 per share....